Hedge fund and asset management firm Oaktree Capital Management is set to become the next alternative investments house to dip its toes into public water.

The Los Angeles-based firm, which has a total of $82 billion in assets under management, plans to move its shares from a private exchange run by Goldman Sachs to the New York Stock Exchange. Oaktree's move would echo Apollo Global Management's switch from the same Goldman secondary market to the NYSE in March.

But unlike Apollo, Oaktree would not pair the move with a concomitant initial public offering, the Financial Times reports.

Oaktree sold about 30% of itself in a private placement to institutional investors four years ago. The firm's principals, led by founders Bruce Karsh and Howard Marks, retained the rest.

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